The European Union's new steel trade regime, established under Regulation (EU) 2026/1384, takes effect on 1 July 2026, setting annual import quotas at 18.3 million metric tons & imposing a 50% duty on excess volumes. A key implementing act defining country-specific allocations remains unpublished, leaving importers & supply chains in uncertainty. The regulation also introduces a "melt and pour" rule to prevent trade circumvention through third-country processing.